Fund Description: Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF, formerly PowerShares Optimum Yield Diversified Commodity Strategy No K-1 Portfolio, formerly PowerShares DB Optimum Yield Diversified Commodity Strategy Portfolio is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the Invesco Actively Managed Exchange-Traded Commodity Fund Trust, formerly PowerShares Actively Managed Exchange-Traded Commodity Fund Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF seeks to provide long-term capital appreciation. The Fund is an actively managed ETF and thus, does not seek to replicate the performance of a specific index, but rather uses an active investment strategy to meet its investment objective, however, an actively managed ETF may have an index-based benchmark. Accordingly, the ETF’s investment advisor, Invesco PowerShares Capital Management LLC., has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective and investment policies. INDEX BENCHMARK: The DBIQ Optimum Yield Diversified Commodity Index Excess Return is composed of futures contracts on 14 heavily traded commodities across the energy, precious metals, industrial metals and agriculture sectors. However, the Fund is not an index tracking ETF; rather, it seeks to exceed the performance of the Benchmark. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing in financial instruments that provide economic exposure to a diverse group of the world’s most heavily traded commodities. Commodities are investable assets with tangible, physical properties, such as, oil, agricultural produce or raw metals. The Fund does not invest in commodities or in commodity-linked futures contracts. Instead the Fund invests, either directly or through a wholly-owned subsidiary in a combination of: (i) futures contracts on commodities; (ii) exchange-traded products (i.e., other ETFs, exchange-traded notes (ETNs) and commodity pools) that provide economic exposure to the commodities markets; and (iii) cash, cash-like instruments or high quality collateral securities that provide liquidity, serve as margin or collateralize the Subsidiary’s investments. The Subsidiary invests in commodity-linked futures contracts that are components of the Benchmark Index. Although the Subsidiary generally holds the components of the Benchmark, the Subsidiary may not invest in all of the Benchmark’s components, or in the same proportion, and it may invest in futures contracts outside the Benchmark. The Adviser employs a rules-based investment approach when selecting futures contracts for the Subsidiary so that the weight of the futures contracts in the Subsidiary’s portfolio reflects the Adviser’s view of the economic significance and market liquidity of the corresponding, underlying commodities. The Fund’s investment in the Subsidiary may not exceed 25% of the Fund’s total assets at each quarter-end of the Fund’s fiscal year. The Fund also may gain exposure to the commodities markets by investing up to 25% of its total assets directly in the PowerShares DB Commodity Index Tracking Fund (the Commodity Pool), a commodity pool that seeks to track the performance of the Benchmark. The Fund and the Subsidiary will invest its remaining assets in high quality collateral securities such as U.S. Treasuries, other U.S. government obligations, money market funds, cash and cash-like equivalents (e.g., high quality commercial paper and similar instruments that are rated investment grade or, if unrated, of comparable quality, as the Adviser determines) that provide liquidity, serve as margin or collateralize the Subsidiary’s investments in commodity-linked futures contracts. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.